Tuesday, September 2, 2014

Closing information

Closing: The process of completing a financial transaction. For mortgage loans, the process of signing mortgage documents, disbursing funds, and, if applicable, transferring ownership of the property. In some jurisdictions, closing is referred to as "escrow," a process by which a buyer and seller deliver legal documents to a third party who completes the transaction in accordance with their instructions.

Closing Costs: The fees charged in connection with a mortgage loan transaction. Money paid by a buyer (and/or seller or other third party, if applicable) to effect the closing of a mortgage loan, generally including, but not limited to a loan origination fee, title examination and insurance, survey, attorney's fee, and prepaid items, such as escrow deposits for taxes and insurance. To read more about closing costs, see "closing costs" under the Buyer or Seller tabs on my website.

Closing Date: The date on which the sale of a property is to be finalized and a loan transaction completed.

Bradford Miller Law, P.C. can assist you with all your real estate needs. From buying, selling, renting and even helping you with a building code violation we are here to help with all your real estate needs at a very reasonable rate. Our experienced Real Estate Attorneys have been representing real estate clients for several years now and have earned membership in the Better Business Bureau. At  www.bradfordmillerlaw you will find information about our firm along with helpful real estate information. To discuss your pending or potential real estate transaction call us at 312-238-9298 for a Free 15-minute consultation.

Posted by Bradford Miller Law, P.C.
Practicing in Real Estate Law, Landlord Tenant Law, and Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602

Offering free legal representation to homeowners seeking a short sale

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